Aqua Logistics IPO receives subscription of 1.94 times

The Initial Public Offering of Aqua Logistics Ltd which closed for subscription on February 2, 2010 has received subscription of 1.94 times. The IPO opened for subscription on January 25, 2010 and was supposed to close on January 28, 2010. The poor response from investors forced the company to extend the closing date to February 2, 2010.

The company also revised the price band from Rs 220/- to Rs 230/- per share to Rs 200/- to Rs 225/- per share.

The IPO received total bids for 14546100 equity shares against the offer of 7500000 equity shares resulting in a subscription of 1.94 times. The issue received bids for 6838125 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue received subscription of 0.2583 times with bids for 968500 equity shares against the offer of 3750000 equity shares.

The Non Institutional Investors portion of the issue received bids for 5702025 equity shares against the offer of 1125000 equity shares resulting in a subscription of 5.0685 times.

The Retail Individual Investors (RIIs) portion of the issue received subscription of 3.0002 times with bids for 7875575 equity shares against the offer of 2625000 equity shares.

Source : Equity Bulls

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